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Why Blue Cross Hates Anthem’s Cigna Deal

You’re hearing crickets from inside the headquarters of the Blue Cross and Blue Shield Association’s headquarters in the 200 block of North Michigan Avenue in Chicago when the topic of health plan mega mergers arises these days.

That’s because it’s largest member company, Anthem (ANTM), may be causing anxiety for fellow Blue Cross and Blue Shield plans across the country with its $54 billion purchase of Cigna (CI). The deal, which comes after Aetna (AET) announced plans to buy Humana (HUM), would seemingly make Anthem another stronger competitor with scale to negotiate better contracts with employers, potential national accounts and other clients.